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Wealth Tax Bill Act Would Double IRS Enforcement Budget

by | Mar 13, 2021 | Tax

Being a millionaire isn’t what it was back in the day, so the name for the wealth tax introduced by Senator Elizabeth Warren (She’s my Senator by the way.  Not bragging, just saying.) is the “Ultra-Millionaire Tax Act of 2021”.  By the good old...

The $1,100 Per Child Tax Rebate Bonus For Unmarried Parents

by | Mar 10, 2021 | Tax

Divorced and never married co-parents have the chance to pick up an extra $1,100 per dependent child when they file their 2020 returns.  It requires trust, cooperation and running multiple versions of their 2020 returns.  It is probably not what Congress intended when...

Stimulus Checks And Your 2020 Return – Hurry Up Or Wait ?

by | Mar 7, 2021 | Tax

The American Rescue Plan Act of 2021, “the Biden stimulus package” is not law, as I write this. It seems very likely to pass though and some people may want to take action in anticipation of it.  That would be filing your 2020 federal income tax return...
Taking Another Look At The Hazards Of Filing Form 1099

Taking Another Look At The Hazards Of Filing Form 1099

by | Mar 4, 2021 | Tax

Failing to send a 1099 can have some really nasty implications, so a lot of us are careful to not miss sending one out when required.  Unfortunately, you can also get in trouble for sending one that should not have been sent if the person receiving it objects.  If...

The “Hey Hey Just Don’t Pay” Tax Strategy

by | Mar 1, 2021 | Tax

One of the favorite sayings of my first managing partner the late Herb Cohan was “I’d rather owe it to you than cheat you out of it.” To be honest, like some of the other sayings, it was never clear exactly what it meant.  Nonetheless, I think it...